Armada Acquisition Corp., initiated by former USA technologies executives targeting fintech, files a $150 million initial public offering with the U.S. Securities and Exchange Commission on Friday, July 2nd.
The Pennsylvania-based blank check company plans to raise the IPO by offering 15 million units at $10 per unit. Moreover, each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Given the proposed deal size, the company would command a market value of $200 million.
The company is planning to focus on target businesses that provide technological services to the financial services industry. Holding an enterprise value of approximately $500 million to $1.0 billion. Armada’s primary focus will revolve around businesses tha…